EU Negotiator: New US Tariffs On EU Imports Would 'Prohibit Trade'

BRUSSELS, July 14 (Bernama-dpa) -- The 30 per cent tariffs imposed by the United States (US) on imports from the European Union would severely impact trans-Atlantic trade and supply chains, German Press Agency (dpa) reported, quoting the EU’s lead trade negotiator.

"There will be a huge impact on trade. It will be almost impossible to continue the trading as we are used to in a trans-Atlantic relationship," EU Trade Commissioner Maroš Šefčovič said about the threatened tariff hike from August 1.

"It prohibits the trade," stressed Šefčovič, who leads the EU negotiating team in the trade dispute with Washington.

"The trans-Atlantic supply chains would be heavily affected on both sides of (the) Atlantic," he said, adding that the US would not want such a scenario.

The EU was showing "enormous patience, enormous creativity to find the solutions" with the US, he said.

US President Donald Trump's announcement that he is imposing additional tariffs came as EU negotiators were hoping that an agreement with Washington was within reach.

Despite the disappointment, Šefčovič is still aiming for a negotiated solution, announcing new talks with his US counterparts later on Monday.

"I cannot imagine walking away without genuine effort," he added.

Šefčovič is attending a meeting of EU trade ministers in Brussels. The commissioner said he will discuss possible countermeasures with ministers to be prepared in case negotiations fail.

Trump recently fired off a barrage of letters to foreign leaders informing them of the steep new tariffs he intends to impose on their goods as of August 1. He also announced 30 per cent tariffs on Mexico on Saturday.

At the same time, he extended a 90-day pause on his so-called reciprocal tariffs first announced on April 2.

--BERNAMA-dpa